Love food, fashion and travel? Debit Card with 5% cashback and Rs 35 lakh insurance cover

Looking for a savings account that offers a little extra on everyday spending? Federal Bank has introduced Verto, a savings account aimed at young professionals, entrepreneurs and salaried individuals.

One of its key features is 5% cashback on debit card spending across food, fashion and flight categories. The account also comes with complimentary insurance cover of up to Rs 35 lakh, domestic airport lounge access and concessions on locker rent.

Customers can also avail themselves of benefits on outward remittances, while spouses and children of account holders are eligible for exclusive banking privileges.

Verto also offers financial insights, including spending analysis, cashback summaries, market updates and perspectives on wealth creation. These features are intended to help customers track their spending and make informed financial decisions.

Federal Bank announced the launch of the Verto Resident Savings Account on October 7, 2026. The account is available to eligible resident individuals through balance-based, salary-based and relationship-based qualification routes.

As with any banking product, customers should check the applicable eligibility requirements and terms before opening an account, particularly those governing cashback and insurance coverage.